Thursday, October 25, 2012

Links Oct 25

IRS delays key start dates for global tax evasion law Reuters
Oct 25 - New developments on the US's Foreign Account Tax Compliance Act (FATCA): "Tax authorities on Wednesday postponed implementation of new rules to force banks and financial institutions to disclose more information about U.S. clients' offshore accounts ... Gaining an additional two years, institutions will now have until January 1, 2017 to begin withholding U.S. tax from clients' investment gains."

Cayman Islands Monitoring FATCA Developments Tax-NewsOct 25 - The Cayman Islands government has released an update on whether the territory will negotiate a government-to-government reporting arrangement with the United States to ease the compliance burden on local financial institutions of complying with the requirements of FATCA.

Hedge Fund Havens Weigh Taxes as Caribbean’s Debt Rivals Greece Bloomberg BusinessWeek
Oct 25 - "From the Cayman Islands to the Bahamas, hedge fund havens are considering a surprising remedy for widening deficits -- higher taxes."

OECD sets 'test' to stamp out international tax avoidance Accountancy Age
Oct 24 - "An OECD party on fiscal affairs has been working to clarify beneficial ownership of dividends, interest and royalties since 2008, and has devised a test in order to establish beneficiaries."

Taxing times in Timor… and the Pacific? Pacific Institute of Public Policy

Oct 17 - "If developed countries really want to help small islands in the Pacific, then one step would be to get bodies like the Australian Tax Office (ATO) to hand over vital information they have on the revenue made by their companies in our territory – or better still help ensure that international companies pay the taxes they should do."

Argentina: Even with a sky high tax burden, proposals to raise taxes on individuals iProfessional
(In Spanish)
Oct 23 - Jorge Gaggero, Cefidar researcher and member of the Phoenix Plan, says that the tax system favors capital flight and the use of tax havens.

Africa losing billions of dollars through illicit financial flows Zambia Daily Mail
Oct 25 - Reporting from the Eighth African Development Forum (ADF-VIII) held in the Ethiopian capital Addis Ababa under the theme: ‘Governing and Harnessing Natural Resources for Africa’s Development’, jointly organised by the United Nations Economic Commission for Africa, the African Union and the African Development Bank. Hat tip: Alvin Mosioma.

See also:
Journalists urged to help stop illicit financial flows from Africa United Nations Economic Commission for Africa

Oct 21 - About 80 journalists from across Africa and Europe were today called upon to assist in halting the illicit financial flows (IFF) from Africa at a media workshop ahead of the Eight African Development Forum (ADF VIII). Hat tip: Ann Njeru.

Money-laundering crackdown should put Nevada on notice Las Vegas Review Journal
Oct 21 - Las Vegas is well-known as a convention hub, but few groups it attracts offered as much unintentional irony as the 11th annual AML and Financial Crime Conference ... Funny they should have such discussions in a city that is no stranger to the subject of money laundering, in a state whose laws of confidential incorporation are widely known as some of the most relaxed in the nation."

A New Score Card in the War on Shell Companies: Do as I Say, Not as I Do? Tax Analysts (via subscription)
Oct 24 - A new study suggests that developed countries -- particularly the United States -- don't practice what they preach when enforcing international rules aimed at increasing tax transparency and preventing the misuse of corporate entities to engage in tax evasion, money laundering, and terrorist financing.

Call for Expressions of Interest: Politics of Domestic Resource Mobilization for Social Development UNRISD
The United Nations Research Institute for Social Development (UNRISD) invites expressions of interest from researchers to collaborate in its new research initiative.

Research Fellow vacancies - Oxford University Centre for Business Taxation
The Centre is seeking outstanding researchers in economics, law, taxation and related fields, such as corporate finance, investment, location, fiscal policy and governance. TJN has clashed with the Centre before (e.g. see here or here); perhaps they are open to new perspectives, however.


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